Richards Merrill & Peterson Inc. Acquires 378 Shares of Dutch Bros Inc. $BROS

Richards Merrill & Peterson Inc. grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,097 shares of the company’s stock after buying an additional 378 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Dutch Bros were worth $485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in Dutch Bros by 85.3% during the first quarter. GAMMA Investing LLC now owns 821 shares of the company’s stock valued at $51,000 after purchasing an additional 378 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Dutch Bros by 366.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,773 shares of the company’s stock worth $1,468,000 after purchasing an additional 18,671 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Dutch Bros by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,385 shares of the company’s stock valued at $1,320,000 after buying an additional 678 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Dutch Bros by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 28,306 shares of the company’s stock valued at $1,748,000 after buying an additional 2,310 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Dutch Bros in the first quarter valued at $313,000. Institutional investors and hedge funds own 85.54% of the company’s stock.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 787,681 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.94, for a total transaction of $54,302,728.14. Following the completion of the sale, the chairman owned 975,031 shares in the company, valued at approximately $67,218,637.14. This represents a 44.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the transaction, the insider directly owned 1,279,144 shares in the company, valued at $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,161,101 shares of company stock valued at $207,633,882. 42.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. CICC Research started coverage on shares of Dutch Bros in a research report on Monday, June 30th. They issued an “outperform” rating and a $80.00 price objective for the company. Wells Fargo & Company reduced their target price on Dutch Bros from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. TD Cowen reaffirmed a “buy” rating and set a $86.00 price target on shares of Dutch Bros in a research report on Tuesday, August 19th. UBS Group increased their target price on shares of Dutch Bros from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Barclays dropped their price target on shares of Dutch Bros from $92.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $77.82.

Dutch Bros Stock Performance

NYSE:BROS opened at $56.98 on Friday. The company has a 50 day simple moving average of $59.73 and a two-hundred day simple moving average of $63.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.64. Dutch Bros Inc. has a fifty-two week low of $32.68 and a fifty-two week high of $86.88. The company has a market capitalization of $9.37 billion, a PE ratio of 121.24, a P/E/G ratio of 3.14 and a beta of 2.55.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The firm had revenue of $415.81 million for the quarter, compared to analysts’ expectations of $403.24 million. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. Research analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Dutch Bros Profile

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.